Real Estate Auction -

: The seller sets a minimum "reserve" price; if bidding doesn't reach this mark, they aren't obligated to sell.

: The auctioneer starts with an advertised minimum price. real estate auction

: Secure financing before the event. Most auctions require a 10% deposit immediately and the balance within 28–56 days. Be aware of the Buyer’s Premium , an extra fee (often ~10%) added to your winning bid price. : The seller sets a minimum "reserve" price;